HALIFAX – DHX Media is now officially the owner of Family Channel, Disney XD, and Disney Junior with the official closing of its $170 million purchase of the former Astral Media asset, divested as part of the Bell Media purchase of Astral in 2013. A new business within DHX comprised of these four channels will be called DHX Television.
Effective as of close of business Thursday, DHX's board of directors announced that Michael Donovan has been elected executive chairman, Dana Landry has been promoted to CEO, and Michael Hirsh has been named vice-chairman. Steven DeNure remains in place as president and COO, adding DHX Television to his operational responsibilities. Joe Tedesco has been named senior vice president and general manager of DHX Television, and Keith Abriel, formerly a consultant to the company, has joined DHX as CFO.
"With the closing of this acquisition today and the creation of DHX Television, we are entering a new and exciting stage of growth as a fully integrated media content company," said Donovan, in a release. "I feel we have the best possible team in place. In my new role as executive chairman I will continue to direct strategy and work with the team to ensure that the drive and vision behind DHX persists well into the future."
The principal assets of the Family Channel Business acquired by DHX Media are the Canadian broadcast licenses for Family Channel, Disney Junior, Disney XD and Disney Junior French. Concurrently with the closing of this acquisition, the Company announced that it has also closed its previously announced syndicated senior debt financing. The new credit facilities will consist of a term loan credit facility in the aggregate amount of up to $235 million and a revolving loan credit facility in the aggregate amount of up to $30 million.
